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Petrobras increases its investment by more than 20 billion dollars for the next 5 years

Written by Renato Oliveira
Published 12/06/2019 às 11:44

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Petrobras
Increase in investments and divestments in Petrobras

Portfolio management, according to statements by the president of Petrobras, raises the estimate of investments for the period 2019-2023 by more than US$ 20 billion and divestments by more than US$ 8 billion

The president of Petrobras, Roberto Castello Branco, declared yesterday (11/06), that the company intends to invest US$ 105 billion over the next five years.
The value represents an increase of US$ 20,9 billion, compared to the value of US$ 84,1 billion disclosed in December last year in the 2019-2023 business plan, but divestments also increased according to the president, from US$ 26,9 billion to $35 billion.

It is worth remembering that in December of last year, when the 2019-2023 Business Plan was announced, the current president had not yet presided over the company.
According to information from the company's press office, the statement by the president of Petrobras called the change in values ​​"portfolio management".

the increases

The 2019-2023 program was already surpassing the previous one by almost US$ 10 billion, with investments in the oil and gas exploration and production sector, the company's priority, receiving the largest share.
“The best thing about Petrobras is oil exploration in deep and ultra-deep waters. Petrobras has highly qualified human capital, we have the best engineers and technology. The same does not happen in mature oil fields, on land and in shallow waters”, stated Castello Branco.

With regard to divestments, the amounts were revised, due to the STF decision that congressional approval will not be required for the sale of refineries.
The previous plan did not envisage selling the eight refineries in full.

Petrobras signed yesterday (11/06) a term with CADE that provides equal conditions for all competitors to purchase the refineries, aiming at preventing the formation of cartels in the sector.

See too ! President of Petrobras confirms Thermoelectric in place of Comperj in partnership with Chinese!

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Renato Oliveira

Production Engineer with a postgraduate degree in Manufacturing and assembly of pipelines with 30 years of experience in inspection/manufacturing/assembly of pipelines/tests/Planning and PCP and commissioning in shipbuilding/offshore (conversion of FPSO's hulls and topsides modules) in the largest national shipyards and 2 years in a Japanese shipyard (Kawasaki) inspecting and accompanying fabrication and assembly techniques of structures/pipes/outfittings (advanced finishing) for hull from Drillships.

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